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Tuesday, 15 December 2015

OPEC says Angola overtakes Nigeria in oil production

Crude oil production from Nigeria fell by 250,000 barrels per day in November, making the country lose its status as Africa’s top oil producer to Angola, latest data from the Organisation of Petroleum Exporting Countries has shown.

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Nigeria recorded the biggest drop in output in November among its peers in OPEC, followed by Saudi Arabia, the group’s biggest producer.

OPEC, in its latest monthly oil market report, put crude oil production from Nigeria at 1.607 million bpd in November based on direct communication, down from 1.812 million bpd in October. Meanwhile Angola saw its oil output drop to 1.722 million bpd last month from 1.762 million bpd in October.